Thread: Gold
time frame- H1
the price is rejected from the resistance at 1294.65 level and move to the strong support at the 1283.55 level. the price break this level but not able to hold and its again moving up side. now the price will try to move at the 1300.00 we can long this with the stop loss at 1277.00
good luck
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Gold has demonstrated a release from sliding alligator and after a long sideways consolidation price seems to determine the direction of motion - and it is south, on the daily chart continue to work out a signal to sell stochastics and RSI, now waiting for gold to support a minimum of about 1270.
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GOLD
Trading Signal - 6/8/2013 - 08:00 GMT+3 60min CHART
Downwards Weak
Waiting for a retracement higher towards the 1305.00 resistance level in order to reinstate SHORT positions.
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As you see in my following attached chart, the price of the gold traded between a high of 1321 and a low of 1297, closed at 1303. Today the metal trades below the resistance line of 1320.
Downside Scenario: As long as the Gold remains below the resistance line of 1320, a decline is likely to be seen into the levels of 1280, then 1267.
Upside Scenario: If the metal penetrates above the resistance line of 1320, this could send the metal to the levels of 1334, then 1348.
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Gold technical analysis
date : 08.06.2013
time : 11:30 GMT
time frame : 15 min
indicator :
1) RSI (14)
value: 40.83
2) MACD (26,12,9)
value: -0.649
3) ADX (14)
value: 19.88
4)CCI(14)
value: -122.77
overall trend - slightly bearish.
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today i like to buy Gold @ 1299.10
my stop loss of the day @ 1303.10
half take profit for today @ 1296.10
and further half take profit @ 1291.10
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Higher-high higher-low formation looks intact in xauusd & on swing support long legged PIN is formed.I'm buying on PIN's 50% with a r:r of 1:2.5 for a target of it's key resistance 1339.
Last edited by fxabdulrehman; 2013-08-06 at 03:51 PM.
I think This time good idea to gold but with using tp 1350. gold will upword in next 2 week so selling is a rizki.. so best of luck.
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Gold analysis for 08.06.2013 by using pivot indicator.
r3: 1338.54
r2: 1329.23
r1: 1315.57
pivot: 1306.26
s1: 1292.60
s2: 1283.29
s3: 1269.63
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